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Prem Sikka

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Prem Nath Sikka, Baron Sikka is a British-Indian accountant and academic. He holds the position of Professor of Accounting at… more

Prem Sikka
H-index: 38
Business 56%
Economics 31%
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by Prem Sikka

premnsikka.bsky.social
1,611 homeless Britons died last yr, including 11 children & babies under the age of one.

Contrary to Suella Braverman, homelessness isn't a lifestyle. It is a failure of society.

Yet govts cut wages/benefits, public services, local council funding; no curbs on profiteering.

How civilised are we?
'Abject failure' as UK's homeless deaths rise - including children
The government's homelessness minister, Alison McGovern MP, has described the increased number of deaths as an "abject failure that cannot be tolerated".
news.sky.com
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by Prem Sikka

Reposted by: Prem Sikka

Reposted by: Prem Sikka

Reposted by: Prem Sikka

Reposted by: Prem Sikka

by Prem Sikka — Reposted by: Prem Sikka

premnsikka.bsky.social
There is parade of dud audits, auditors let lying dogs sleep.

UK accounting regulator is changing the rules.There will be fewer investigations.

People will be deceived, fees will keep rising.

There is no transparency about the conduct of audits.

Regulators work for the industry.
archive.ph/YCz1V
UK accounting watchdog to ease its probes of audit firms
FRC’s proposals follow sustained complaints from the industry about lengthy investigations
www.ft.com
5 40 86

by Prem Sikka — Reposted by: Prem Sikka

premnsikka.bsky.social
KPMG fined £710,937.50 for dud audit of N Brown Group.

Failed to perform proper accounting checks.

Fines are just another cost of doing Nelsonian audits, passed to other customers

Audits by big firms are worthless, but highly profitable. Partners collect millions, exploit state guaranteed market.
Sanctions against KPMG LLP and Anthony Sykes
www.frc.org.uk
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by Prem Sikka — Reposted by: Prem Sikka

premnsikka.bsky.social
Starmer faces cabinet revolt over tax rises that could drive wealthy away. Ridiculous.

Capital gains, dividends taxed at lower rates than wages.

Poorest 20% pay higher proportion of income in tax than the richest 20%.

16m live in poverty. Millions rely on food banks.

End tax perks of the rich.
Starmer faces cabinet revolt over Budget tax rises driving wealthy away
‘The trouble is we have crossed a line in trying to encourage aspiration. The non-dom change and the VAT on school fees have sent the opposite message,’ minister tells The Independent
www.independent.co.uk
32 87 280

by Prem Sikka — Reposted by: Prem Sikka, Ben Barr, Fabián Muniesa

premnsikka.bsky.social
The NHS and social care would cease to function under UK govt’s new rules on foreign staff.

Workers will have to wait – from 5 to 10 years – before they can apply for indefinite leave to remain, claim any benefit, childcare, or housing support, despite paying taxes

Govt appeasing Reform.
NHS could cease to function under Labour’s new visa rules, say nurses
Exclusive: Royal College of Nursing says plan to tighten rules for foreign workers is ‘pandering’ to Reform UK
www.theguardian.com
9 53 120

by Prem Sikka

premnsikka.bsky.social
No snooping over their bank accounts. It is only the poor, old, sick and disabled who are targeted.
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by Prem Sikka

premnsikka.bsky.social
This is the Bill already passed by the Commons with Tory, LibDem, Reform support and is now going through the Lords
bills.parliament.uk/publications...
bills.parliament.uk
2 1 2

by Prem Sikka — Reposted by: Prem Sikka

premnsikka.bsky.social
Richest 1% has more wealth than 70% of UK population combined.

Top 20% own two-thirds of wealth, receive 36% of income.

Bottom 20% own 0.5% of wealth, receive 9% of income.

Can't grow economy or have social stability.

Poverty is political choice. Which political party wants to address this?
The government must ensure fair distribution of income
'The average real wage of workers has hardly moved from the 2008 level whilst bosses never had it so good.'
leftfootforward.org
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by Prem Sikka — Reposted by: Prem Sikka

by Prem Sikka — Reposted by: Prem Sikka

premnsikka.bsky.social
More evidence of Private Equity disaster in US healthcare

PE bought hospitals, GP practices, nursing homes.

Cut wages, staff, investment, care; load with debt; extract profits; deaths, injuries rise.

Why is UK govt handing healthcare to PE/corporations?

Say NO to privatisation of the NHS.
Private Equity in Health Care - ACHI
This explainer examines the rise of private equity in healthcare, the financial structures behind private equity transactions, what the evidence shows about the impacts of these transactions on the he...
achi.net
14 160 310

by Prem Sikka — Reposted by: Prem Sikka

by Prem Sikka

premnsikka.bsky.social
Foreign banks.
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by Prem Sikka — Reposted by: Prem Sikka

premnsikka.bsky.social
The UK household debt is over £2 trillion.

Debt once public now loaded to households e.g. student debt. Energy debt rising. People borrowing for healthcare.

Mortgages 7 times salary being issued. Soaring rents.

Real average wage stuck at the 2008 level.

What could go wrong?
7 110 260

by Prem Sikka — Reposted by: Prem Sikka

Reposted by: Prem Sikka

by Prem Sikka — Reposted by: Prem Sikka

premnsikka.bsky.social
15 UK banks ordered to snoop on state pensioners and other benefit claimants under DWP crackdown.

No court order needed. No right of appeal.

Banks will pass cost to other customers.

Those accused of fraud won't get legal advice. The making of another Post Office type scandal.
15 banks ordered to snoop on state pensioners under DWP crackdown
The Telegraph newspaper reports banks will be required to monitor pensioners’ bank accounts and share payments data
www.birminghammail.co.uk
28 190 300

by Prem Sikka — Reposted by: Prem Sikka

by Prem Sikka — Reposted by: Prem Sikka, John Hogan

premnsikka.bsky.social
Global renewable energy generation surpasses coal.

China & India lead the race for renewable energy.

The US increased reliance on fossil fuels.

With corporate donations Trump wants more fossil fuels. Farage and Tories promising the same. Banks pouring money.
Global renewable energy generation surpasses coal for first time
Record solar expansion and steady wind growth driving world’s shift away from fossil fuels in 2025, report finds
www.theguardian.com
4 61 180

by Prem Sikka — Reposted by: Prem Sikka

Reposted by: Prem Sikka

by Prem Sikka

premnsikka.bsky.social
I don't think such a statistic is available.

What we do know is that spending by low income families is heavily weighted towards housing, food, shoes, clotting and other essentials and it is mostly spent locally which boosts local economies
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by Prem Sikka — Reposted by: Prem Sikka

premnsikka.bsky.social
The state we're in

UK full-time employee median wage, £30,816.
4.5m jobs pay less than the real Living Wage.
1.17m workers on zero-hour contracts.
34% of Universal Credit claimants are in work.
16m Britons live in poverty.

Can't build economy on poverty.

Must increase worker share of GDP.
The government must ensure fair distribution of income
'The average real wage of workers has hardly moved from the 2008 level whilst bosses never had it so good.'
leftfootforward.org
13 150 330

by Prem Sikka — Reposted by: Prem Sikka

premnsikka.bsky.social
Tories offer £47bn austerity - cuts to disability benefits, PIP for mental health claimants, social housing, civil service, regulators, green economy, accompanied by anti-migrant rhetoric.

Won't hike taxes the rich or curb profiteering.

The nasty party heading for the dustbin of history.
Tories confirm plans to cut PIP for mental health claimants
The Conservatives have unveiled plans to cut spending on welfare and scrap environmental subsidies
www.mirror.co.uk
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Reposted by: Prem Sikka

Reposted by: Prem Sikka

References

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